Yes. As long as the offering price per share didn't go down as a result. Which based on the last S1 it did not. Of course this is all based on the S1 today, which said a 1 for 400 RS to equal $12 a share, which is .03 pre split.
The price the investors get is fair. I think it was $5.12 a share? I could live with that. As long as there is no warrant.
Which again, as long as the company LIVES UP TO the latest S1 which said a 1 for 400 at .03? Means anyone buying here is automatically "in the money".